Default in Payment by Kennecott Sample Clauses

Default in Payment by Kennecott. If, at any time when the Zone B Ad- justment Factor is between 50% and 100%, (i) Kennecott defaults in its obligation to re- lease funds to JVWCD under Section 9.2d, 9.2e, or 9.2f, and (ii) JVWCD elects to in- crease its firm commitment to make water available under Section 7.1.b to 3500 acre feet in accordance with Section VIII.C.2 of the State Agreement, then Kennecott’s obligation to release funds to JVWCD pursuant to Section 9.2d, 9.2e, or 9.2f shall be reduced by the amounts disbursed to JVWCD by the Trustee under Section VIII.C.2 of the State Agree- ment. If the amount so disbursed to JVWCD by the Trustee equals or exceeds the re- maining amount of Kennecott’s remaining obligation to release funds pursuant to Sec- tions 9.2d, 9.2e and 9.2f, then Kennecott’s obligation to release funds pursuant to Sec- tion 9.2d, 9.2e or 9.2f shall terminate.
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Related to Default in Payment by Kennecott

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